STOCK.com will be trading Pepsico as of today on Metatrader4, following the opening of the NYSE.
Image: iStock © littleny
In November Pepsico shares reached their highest in 52 weeks, rising to $97.83 on 5 Nov, gaining 3% since the previous month. Third quarter earnings announced on 9 October did much to push Pepsico on this course with earnings per share of $1.36 increased 10% year over year driven by strong organic revenue gains and solid margins.
The food and beverage giant with brands such as Pepsi, Lays crisps, Quaker, Tropicana, Walkers and Liptons supply to over 200 countries round the world. In the earnings statement, Chairman and CEO Indra Nooyi was upbeat with announcements that saw a revised positive outlook for the year: “Our organic revenue grew three percent and we achieved positive effective net pricing through strong price/pack revenue management. Together with our relentless focus on productivity, this translated to both gross margin and operating margin expansion.”
He added, “We achieved these results because our brands are strong, our product portfolio is on-trend, our geographic footprint is broad and diverse, and we are executing well in the marketplace. Based on the strength of our year-to-date results and our outlook for the remainder of the year, we are raising our full year, core constant currency EPS growth target to nine percent.”
Zack’s Equity Research stated at the start of the month; “We believe that Pepsi would continue the strong momentum in the fourth quarter as well as the next year backed by the strong snacks business, robust international growth and aggressive cost savings.”
Shares today stand at $98.06.
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